Financing your education

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Financing your education

Financing your education

A graduate education from the world’s leading school in international business is not only an investment in your career, but in your life, your community and the global economy at large. At Thunderbird, more than 68% of all students regularly receive some form of financial aid — loans, scholarships and/or awards — to complement their own resources. Thunderbird’s dedicated Financial Aid staff is committed to assisting you with your specific needs.

To learn more about the financial aid options available to you, choose from the menu below. For detailed instructions or advice, contact the Financial Aid team at finaid@thunderbird.edu or call +1 602 978-7130 or 1 800 848-9084 (U.S. only).

Financing options

US citizens & permanent residents

Loan programs

Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. These programs are outlined below.

The Free Application for Federal Student Aid (FAFSA) is required to determine eligibility for all loans below, except the “Private Education Loan Program” and the “Leo S. Rowe Fund.” For applicable loans, the FAFSA should be submitted by the preferred filing date:

Loan programs Thunderbird participates in:

Federal Perkins

Qualifications: Must be a US citizen or legal resident; based on financial needAward value: Maximum $8,000 per fiscal year Interest rate: 5% (fixed)Loan fees: NoneGrace period: 9 months

Direct Unsubsidized Loan

Qualifications: Must be a US citizen or legal resident; not based on financial needAward value: Maximum $20,500 per yearInterest rate: 6.21% (fixed) on loans originated on or after 7/1/14Loan fees: 1.072% deducted from disbursement on loans disbursed prior to 10/1/14; 1.073% deducted from disbursement on loans with a first disbursement on or after 10/1/14Grace period: 6 months

Direct Graduate PLUS

Qualifications: Must be a US citizen or legal resident; not based on financial needAward value: Up to the published cost of attendance less any other financial aid Interest rate: 7.21% (fixed) on loans originated on or after 7/1/14Loan fees: 4.288% deducted from disbursement on loans disbursed prior to 10/1/14; 4.292% deducted from disbursement on loans with a first disbursement on or after 10/1/14Grace period: Enters repayment within 45-60 days after graduation or enrollment at less than half time. A forbearance may be arranged with the loan servicers that will align repayment to begin with the Stafford loan.

Dougherty Foundation

Qualifications: Must be a full-time student who is a US citizen and an Arizona resident for a minimum of two years prior to enrollmentAward value: Maximum $1,000 per trimester or $2,000 per 12 monthsInterest rate: 5% for first six years of repayment, 8% for remaining repayment period on unpaid balanceLoan fees: NoneGrace period: 9 months

Private Education Loan Program: Non-government loans

Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit historyAward value: Up to the published cost of attendance per year, depending on lender, credit and other financial aidInterest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)Loan fees: Vary depending on credit and lenderGrace period: 6 months

Leo S. Rowe Fund

Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0Award value: $7,500 for 2 termsAggregate amount: $15,000Interest rate: 0%Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.

Student employment (full-time students only)

On-campus

Federal work-study and non-work-study positions may be available on campus for students and qualified spouses. Generally, these jobs are available in administrative and faculty offices or various other capacities, and range from office support to assisting professors for specific classes, dependent on talents. On average, students work about 10 hours per week and can expect to earn about $1,000 per trimester. Some qualified spouses may work full-time on campus. For a list of available positions, contact Financial Aid at finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.

Federal work-study

Federal work-study positions may be available to eligible US citizens and legal residents. There are opportunities off campus for helping elementary school children with reading and mathematics as part of Thunderbird’s Work-Study Community Service participation.

Non-work-study

Non-work-study positions may be available to qualified foreign students and students who are ineligible for federal work-study. Foreign students with F-1 visas are eligible to work in the United States. J-1 visa holders need permission from their sponsor to work.

Off-campus

Some off-campus jobs in the Phoenix/Glendale areas may be available to students and/or spouses. Non-US students and spouses must have appropriate visa documents and Department of Homeland Security (DHS) permission to pursue off-campus positions. For a list of available positions, contact Financial Aid at

or call +1 602 978-7130 or 800 848-9084.

Corporate sponsorship

Thunderbird students may be able to secure sponsorship from their employers for costs associated with tuition, fees or activities related to their degree. Corporations and employers often offer some combination of training or tuition assistance benefits for graduate-degree or continuing-education programs for their employees. The following points may help you frame your discussion with your supervisor or employer’s HR department, should you seek financial support for one of Thunderbird’s programs.

Thunderbird degrees benefit employers directly by:

Equipping you with the skills and tools to manage/lead in a global context

Providing you with resources for effective leadership and decision making

Offering you access to the brightest minds in global management theory and practice

Giving you a hands-on education with real-world assignments and lessons

Providing you with cultural experiences inside and outside of the classroom that broaden your global mindset

Connecting you to a robust alumni network of peers and professionals around the world

Veterans Administration Education Benefit

Information on Veterans Education Benefits is available on the U.S. Department of Veterans Affairs GI Bill web site. All individuals receiving educational benefits from VA can call 1-888-GIBILL1 (1-888-442-4551). The automated phone system can answer many of your common questions quickly and easily.

APPLYING FOR BENEFITS

When applying for VA education benefits, please allow eight to ten weeks for processing. The amount of benefits you will receive is determined by the Department of Veterans Affairs and is based on the number of credit hours for which you are enrolled.

New Students If you have never used VA education benefits at any institution of higher education, you must complete the appropriate application form.

You will need to submit a copy of the completed form to Thunderbird’s Veteran Certifying Official at military@thunderbird.edu. These are kept for our records only.

YELLOW RIBBON PROGRAM

Thunderbird School of Global Management has elected to participate in the Yellow Ribbon Program. The Yellow Ribbon Program was established by the Post-9/11 Veterans Educational Assistance Act of 2008 (CH. 33). This program allows institutions of higher learning (such as colleges, universities, and other degree-granting schools) in the United States to voluntarily enter into an agreement with the VA to fund tuition and fee expenses that exceed the tuition and fee amounts payable under the Post-9/11 GI Bill.

Only Veterans entitled to the maximum benefit rate (based on service requirements) or their designated transferees may receive this funding. Active duty service members and their spouses are not eligible for this program (child transferees of active duty service members may be eligible if the service members is qualified at the 100% rate).

Therefore, you may be eligible if:

You served an aggregate period of active duty after September 10, 2001, of at least 36 months;

You were honorably discharged from active duty for a service connected disability and you served 30 continuous days after September 10, 2001;

You are a dependent eligible for Transfer of Entitlement under the Post-9/11 GI Bill based on a Veteran’s service under the eligibility criteria listed above.

Thunderbird

GMAT at the 50% of country average or GRE at the 50th percentile, if applicable.

FOR MORE INFORMATION

Thunderbird offers exclusive support services and opportunities for US military members through our Lt. General Yount Program for Military Service. For specific veteran information, email Thunderbird’s Veterans Certifying Official at military@thunderbird.edu.

Resources

RESOURCES

Financing your degree can be made easier with the support and assistance of various external programs and resources.

Celia M. Howard Scholarship: This is a specialized fellowship offered to MBA & MA/MS students at only five schools across the country. It is open to Thunderbird female students and applicants who are residents of Illinois. Students must apply for this external scholarship before they matriculate at Thunderbird.

Scholarship search

We recommend the following sites when conducting your scholarship search:

International students

SHARE Fellowship (full-time students only)

Thunderbird believes in the power of business to change lives.

The global economy is being reshaped by emerging markets, where entrepreneurial drive and passion are alive. And Thunderbird is dedicated to helping students from these markets harness their potential. These student leaders are poised to revolutionize business and make an extraordinary impact — and there is no better school to prepare them than Thunderbird.

Funded solely by alumni donations, the Thunderbird SHARE Fellowship provides top-tier candidates from emerging markets with up to 100% of tuition for one of Thunderbird’s top-ranked graduate degree programs. Each SHARE Scholar is also partnered with an alumni mentor and networking partner for the duration of their degree. Recipients of the SHARE Fellowship will need to commit to working 130 hours during the course of their degree program.

Are you ready to SHARE your passion for world?

Contact us today to learn more about this once-in-a-lifetime fellowship opportunity.

Eligibility requirements

SHARE Fellowship awards are available to entering students from emerging countries, as well as disadvantaged American students, who meet Thunderbird’s general admission requirements and have been offered admission through the Office of Admissions. Preference is given to students who plan to return to their region of origin to use their Thunderbird degree to make a difference in the country or region’s economy. Ideal candidates are those who have shown commitment and outstanding performance in other areas of endeavor.

To be considered, students must meet the following requirements, depending on degree program:

MBA in Global Management

Minimum of two years of work experience, the nature of which would enable the student to bring input of value to instruction in the program of choice

Undergraduate GPA of 3.2 or higher

GMAT score of 610 or higher

Master of Science or Master of Arts

Undergraduate GPA of 3.2 or higher

Equivalent of a GMAT score of 610 or higher on the GRE scoring protocol

Loan programs

It is recommended that international students secure loans from a lending institution in their home country. For students unable to secure funding in their home country, Thunderbird participates in two primary student loan programs from private sources that are available to qualified international students and must be repaid. These programs are outlined below.

Private Education Loan Program: Non-government loans

Qualifications: May be a foreign national with a US citizen or legal resident co-signer who has established good US credit historyAward value: Up to the published cost of attendance per year, depending on lender, credit and other financial aidInterest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)Loan fees: Vary depending on credit and lenderGrace period: 6 months

Leo S. Rowe Fund

Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0Award value: $7,500 for 2 termsAggregate amount: $15,000Interest rate: 0%

Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.

Student employment (full-time students only)

On-campus

Federal work-study and non-work-study positions may be available on campus for students and qualified spouses. Generally, these jobs are available in administrative and faculty offices or various other capacities, and range from office support to assisting professors for specific classes, dependent on talents. On average, students work about 10 hours per week and can expect to earn about $1,000 per trimester. Some qualified spouses may work full-time on campus. For a list of available positions, contact Financial Aid at finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.

Federal work-study

Federal work-study positions may be available to eligible US citizens and legal residents. There are opportunities off campus for helping elementary school children with reading and mathematics as part of Thunderbird’s Work-Study Community Service participation.

Non-work-study

Non-work-study positions may be available to qualified foreign students and students who are ineligible for federal work-study. Foreign students with F-1 visas are eligible to work in the United States. J-1 visa holders need permission from their sponsor to work.

Off-campus

Some off-campus jobs in the Phoenix/Glendale areas may be available to students and/or spouses. Non-US students and spouses must have appropriate visa documents and Department of Homeland Security (DHS) permission to pursue off-campus positions. For a list of available positions, contact Financial Aid at

or call +1 602 978-7130 or 800 848-9084.

Resources & tools

TOOLS

These tools are provided to help you as you work with Thunderbird’s Financial Aid team on sourcing funding for your degree.

Celia M. Howard Scholarship: This is a specialized fellowship offered to MBA & MA/MS students at only five schools across the country. It is open to Thunderbird female students and applicants who are residents of Illinois. Students must apply for this external scholarship before they matriculate at Thunderbird.

Scholarship search

We recommend the following sites when conducting your scholarship search:

Executive MBA students

Loan programs for US citizens & permanent residents

Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. These programs are outlined below.

The Free Application for Federal Student Aid (FAFSA) is required to determine eligibility for all loans below, except the “Private Education Loan Program” and the “Leo S. Rowe Fund.” For applicable loans, the FAFSA should be submitted by the preferred filing date:

Loan programs Thunderbird participates in:

Federal Perkins

Qualifications: Must be a US citizen or legal resident; based on financial needAward value: Maximum $8,000 per fiscal year Interest rate: 5% (fixed)Loan fees: NoneGrace period: 9 months

Direct Unsubsidized Loan

Qualifications: Must be a US citizen or legal resident; not based on financial needAward value: Maximum $20,500 per yearInterest rate: 6.21% (fixed) on loans originated on or after 7/1/14Loan fees: 1.072% deducted from disbursement on loans disbursed prior to 10/1/14; 1.073% deducted from disbursement on loans with a first disbursement on or after 10/1/14Grace period: 6 months

Direct Graduate PLUS

Qualifications: Must be a US citizen or legal resident; not based on financial needAward value: Up to the published cost of attendance less any other financial aid Interest rate: 7.21% (fixed) on loans originated on or after 7/1/14Loan fees: 4.288% deducted from disbursement on loans disbursed prior to 10/1/14; 4.292% deducted from disbursement on loans with a first disbursement on or after 10/1/14

Grace period: Enters repayment within 45-60 days after graduation or enrollment at less than half time. A forbearance may be arranged with the loan servicers that will align repayment to begin with the Stafford loan.

Dougherty Foundation

Qualifications: Must be a full-time student who is a US citizen and an Arizona resident for a minimum of two years prior to enrollmentAward value: Maximum $1,000 per trimester or $2,000 per 12 monthsInterest rate: 5% for first six years of repayment, 8% for remaining repayment period on unpaid balanceLoan fees: NoneGrace period: 9 months

Private Education Loan Program: Non-government loans

Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit historyAward value: Up to the published cost of attendance per year, depending on lender, credit and other financial aidInterest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)Loan fees: Vary depending on credit and lenderGrace period: 6 months

Leo S. Rowe Fund

Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0Award value: $7,500 for 2 termsAggregate amount: $15,000Interest rate: 0%

Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.

Loan programs for international students

Thunderbird participates in two primary student loan programs from private sources that are available to qualified international students and must be repaid. These programs are outlined below.

Private Education Loan Program: Non-government loans

Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit historyAward value: Up to the published cost of attendance per year, depending on lender, credit and other financial aidInterest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)Loan fees: Vary depending on credit and lenderGrace period: 6 months

Leo S. Rowe Fund

Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0Award value: $7,500 for 2 termsAggregate amount: $15,000Interest rate: 0%

Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.

Corporate sponsorship

Your company does not need to sponsor your degree “financially;” however, Thunderbird requires all Executive MBA participants to have their employer approve (in advance) the necessary leave time in order to accommodate the program schedule.

The minimal support required of your company’s management is their commitment to provide you with this flexibility. Many participants’ companies allow them to use a combination of vacation and paid training time for pursuing the degree.

Corporations and employers often offer some combination of training or tuition assistance benefits for MBA programs in support of talent development.

The following points may help you frame your discussion with your supervisor or employer’s HR department, should you be seeking financial support for Thunderbird’s Executive MBA program.

The Executive MBA benefits your employer directly with:

Improved performance.

The Executive MBA will give you new skills, time away from work to consider the implications of various theories and trends on your industry and company. You will be introduced to best practices and concepts which you can implement immediately following each program weekend.

Strategic recommendations.

You or your firm may be faced with a particular business case that you can use as you pursue your course work in applying theories and concepts. During the Executive MBA program, you will have opportunities to present business scenarios to peers and professors for consideration and feedback, whether for formal course assignments or informal discussions outside of the classroom.

Confidence in your decision-making.

One of the benefits of the Executive MBA experience will be your confidence in the decisions that you make as a manager and in your company’s confidence in you as a leader. You will be better equipped for financial, strategic, market and human capital decisions in a range of areas, resource allocation to organizational communication. And your employer can be confident that you have had training from some of the most elite professors in these disciplines.

Outsourced leadership training and development.

Has your employer identified you as a potential senior manager or rising leader within the organization? What formal succession planning and training will be provided to ensure that you are ready for the highest levels of the organization? The Executive MBA provides your employer with an unparalleled level of training and exposure for you that could not be replicated by a corporate university or series of in-house training programs.

Access to Executive trainers.

Thunderbird’s Executive Education division, with the same dynamic professors as the Executive MBA, is consistently ranked among the top providers of executive training. The professors you will meet in the Executive MBA have consulted for top players in major industries, from Pharmaceutical companies to the Oil & Gas sector. This provides a quality assurance measure for the direct, practical and applicable learning to which you will be exposed during your degree program.

Veterans Administration Education Benefit

Information on Veterans Education Benefits is available on the U.S. Department of Veterans Affairs GI Bill web site. All individuals receiving educational benefits from VA can call 1-888-GIBILL1 (1-888-442-4551). The automated phone system can answer many of your common questions quickly and easily.

APPLYING FOR BENEFITS

When applying for VA education benefits, please allow eight to ten weeks for processing. The amount of benefits you will receive is determined by the Department of Veterans Affairs and is based on the number of credit hours for which you are enrolled.

New Students If you have never used VA education benefits at any institution of higher education, you must complete the appropriate application form.

You will need to submit a copy of the completed form to Thunderbird’s Veteran Certifying Official at military@thunderbird.edu. These are kept for our records only.

YELLOW RIBBON PROGRAM

Thunderbird School of Global Management has elected to participate in the Yellow Ribbon Program. The Yellow Ribbon Program was established by the Post-9/11 Veterans Educational Assistance Act of 2008 (CH. 33). This program allows institutions of higher learning (such as colleges, universities, and other degree-granting schools) in the United States to voluntarily enter into an agreement with the VA to fund tuition and fee expenses that exceed the tuition and fee amounts payable under the Post-9/11 GI Bill.

Only Veterans entitled to the maximum benefit rate (based on service requirements) or their designated transferees may receive this funding. Active duty service members and their spouses are not eligible for this program (child transferees of active duty service members may be eligible if the service members is qualified at the 100% rate).

Therefore, you may be eligible if:

You served an aggregate period of active duty after September 10, 2001, of at least 36 months;

You were honorably discharged from active duty for a service connected disability and you served 30 continuous days after September 10, 2001;

You are a dependent eligible for Transfer of Entitlement under the Post-9/11 GI Bill based on a Veteran’s service under the eligibility criteria listed above.

Thunderbird

GMAT at the 50% of country average or GRE at the 50th percentile, if applicable.

Celia M. Howard Scholarship: This is a specialized fellowship offered to MBA & MA/MS students at only five schools across the country. It is open to Thunderbird female students and applicants who are residents of Illinois. Students must apply for this external scholarship before they matriculate at Thunderbird.

Scholarship search

We recommend the following sites when conducting your scholarship search:

Please note: Thunderbird does not have formal agreements regarding the loans or scholarships presented below. You should assess whether the source of funding suits your needs.

Opportunities in your own country

Some countries allow you to offset course fees and/or living expenses against income tax, which considerably reduces the cost. This usually means that course fees have to be paid in the same year that you earn taxable income. We recommend that you investigate such options within your own country of origin. It is best to speak with a tax advisor or national tax office regarding the possibility.

Worldwide funding

Some organizations offer financial aid to participants, regardless of nationality.

Please keep in mind, the total financial assistance you are eligible to receive through institutional and outside scholarships, federal and private loans is limited by the published cost of attendance. Items taken into consideration include tuition, fees, health insurance, average housing, meals, books and supplies, transportation, and personal expenses for the student.